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Designing Monetary and Fiscal Policy in Low-Income Countries

Designing Monetary and Fiscal Policy in Low-Income Countries »

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

DOI: http://dx.doi.org/10.5089/9781589064966.084

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

Macroeconomic outcomes in low-income countries (LICs) have improved markedly in recent years, but important questions remain regarding possible adjustments in the design of IMF-supported programs in such countries....

Le bon fonctionnement des finances internationales, la promotion des accords de confirmation du FMI et la rédaction des accords de prêt privés

Le bon fonctionnement des finances internationales, la promotion des accords de confirmation du FMI et la rédaction des accords de prêt privés »

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 January 1982

Language: French

DOI: http://dx.doi.org/10.5089/9781451973884.054

ISBN: 9781451973884

Keywords: balance of payments, loan agreement, credit tranches, central bank, general resources account, private banks, central banks, international monetary system, bankers, exchange rate policies

...

I Introduction

I Introduction »

Source: Designing Monetary and Fiscal Policy in Low-Income Countries

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

Macroeconomic outcomes in low-income countries have improved markedly in recent years. Reflecting improvements in policy implementation, increased official financial support, and a relatively benign internat...

II Stylized Facts of PRGF-Supported Programs in Mature Stabilizers

II Stylized Facts of PRGF-Supported Programs in Mature Stabilizers »

Source: Designing Monetary and Fiscal Policy in Low-Income Countries

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

PRGF-supported programs in the 15 mature stabilizers during 2000–03 have generally sought to consolidate macroeconomic stability and foster growth. By and large, growth outcomes have been in line with progra...

III Monetary Policy Issues in PRGF-Supported Programs

III Monetary Policy Issues in PRGF-Supported Programs »

Source: Designing Monetary and Fiscal Policy in Low-Income Countries

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

As noted above, maintaining inflation in the low single digits is an important feature of PRGF-supported programs in the mature stabilizers. In general, programs sought to keep inflation in the 4–6 percent r...

IV Fiscal Policy Issues in PRGF-Supported Programs

IV Fiscal Policy Issues in PRGF-Supported Programs »

Source: Designing Monetary and Fiscal Policy in Low-Income Countries

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

This section assesses whether program design in the fiscal area is consistent with the best practices suggested in the literature. It begins with a discussion of the links between fiscal policy and growth, i...

V Conclusions

V Conclusions »

Source: Designing Monetary and Fiscal Policy in Low-Income Countries

Series: Occasional Papers

Author(s): Jan Martijn , Gabriel Di Bella , Shamsuddin Tareq , Benedict Clements , and Abebe Aemro Selassie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2006

ISBN: 9781589064966

Keywords: inflation, monetary fund, money growth, monetary policy

In sum, macroeconomic outcomes in the low-income countries reviewed in this paper have been robust in recent years, with inflation reduced to single digits, the highest per capita income growth rates for man...

Should Unconventional Monetary Policies Become Conventional?*

Should Unconventional Monetary Policies Become Conventional?* »

Source: Should Unconventional Monetary Policies Become Conventional?

Volume/Issue: 2017/85

Series: IMF Working Papers

Author(s): Dominic Quint , and Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 March 2017

ISBN: 9781475591330

Keywords: United States, Banking, Western Hemisphere, Unconventional Monetary Policy, Optimal Rules, Time-Series Models, Monetary Policy (Targets, Instruments, and Effects)

The large recession that followed the Global Financial Crisis of 2008-09 triggered unprecedented monetary policy easing around the world. Most central banks in advanced economies deployed new instruments to affect...

Leaning Against Windy Bank Lending*

Leaning Against Windy Bank Lending* »

Source: Leaning Against Windy Bank Lending

Volume/Issue: 2017/179

Series: IMF Working Papers

Author(s): Giovanni Melina , and Stefania Villa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 July 2017

ISBN: 9781484312674

Keywords: United States, Western Hemisphere, lending relationships, credit growth, leaning against the wind, Bayesian estimation, optimal monetary policy, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments

Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provides evidence that monetary policy reacted to bank loan growth in the US during the Great Moderation. It then shows...

Pension Reform Options in Chile

Pension Reform Options in Chile »

Source: Pension Reform Options in Chile : Some Tradeoffs

Volume/Issue: 2017/53

Series: IMF Working Papers

Author(s): Marika Santoro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2017

ISBN: 9781475586206

Keywords: Pension reforms, Chile, Pensions, Private savings, Fiscal policy, Monetary policy, Indirect taxation, Macro-fiscal analysis, General equilibrium models, macroeconomic analysis

In this paper, we study the macroeconomic impact of pension reform options in Chile, using a dynamic general equilibrium model. The main reform proposal considers raising contributions (employer side) and vehicle a...